What You Should Know:
– Biolinq, a provider of precision wearable biosensors for metabolic health secures $58M led by Alpha Wave Ventures. The round will include participation from Niterra’s corporate venture capital fund jointly operated with Pegasus Tech Ventures and existing investors RiverVest Venture Partners, AXA IM Alts, Global Health Investment Corporation, Aphelion Capital, Senvest Management, Features Capital and Taisho Pharmaceutical. J.P. Morgan served as a placement agent to Biolinq in connection with the financing.
– The funding will propel Biolinq towards completion of a pivotal clinical trial in the US and subsequent FDA submission for its innovative continuous glucose monitoring (CGM) patch.
Biolinq’s Intradermal Sensor
The Biolinq patch offers a unique approach to glucose monitoring:
- Simple and Discreet: Worn on the upper forearm, the patch features an intuitive display for easy blood sugar level tracking.
- Intradermal Sensors: Tiny sensors placed just under the skin measure glucose levels, eliminating the need for finger pricking.
- Multi-Analyte Potential: Biolinq’s sensor array is designed to go beyond glucose monitoring, offering the potential for broader metabolic health insights in the future.
- Redundancy and Reliability: The design incorporates multiple sensors on a single chip, ensuring data accuracy and reliable performance.
Biolinq’s intradermal sensor is currently an investigational device, awaiting FDA clearance. This new funding positions Biolinq to complete the crucial clinical trial phase and potentially gain FDA approval later this year.
“Our technology approach enables access to a coveted, metabolically active compartment of the skin for biosensing without the use of introducer needles or bleeding,” said Rich Yang, CEO, Biolinq. “Over the past decade, our team has been pioneering a new biosensor platform designed to inform and inspire, with a mission to reach more people that are in need of simple solutions to improve metabolic health.”
